1.3: How Economists Use Theories and Models to Understand Economic Issues

1.4: How Economies Can Be Organized: An Overview of Economic Systems

1: Review Questions (6)

1: Critical Thinking Questions (2)

1: Problems

Chapter 2: Choice in a World of Scarcity

2.1: How Individuals Make Choices Based on Their Budget Constraint

2.2: The Production Possibilities Frontier and Social Choices

2.3: Confronting Objections to the Economic Approach

2: Review Questions (3)

2: Critical Thinking Questions (3)

2: Problems (4)

Chapter 3: Demand and Supply

3.1: Demand, Supply, and Equilibrium in Markets for Goods and Services

3.2: Shifts in Demand and Supply for Goods and Services

3.3: Changes in Equilibrium Price and Quantity: The Four-Step Process

3.4: Price Ceilings and Price Floors

3.5: Demand, Supply, and Efficiency

3: Review Questions (10)

3: Critical Thinking Questions (6)

3: Problems (3)

Chapter 4: Labor and Financial Markets

4.1: Demand and Supply at Work in Labor Markets

4.2: Demand and Supply in Financial Markets

4.3: The Market System as an Efficient Mechanism for Information

4: Review Questions (4)

4: Critical Thinking Questions (3)

4: Problems (4)

Chapter 5: Elasticity

5.1: Price Elasticity of Demand and Price Elasticity of Supply

5.2: Polar Cases of Elasticity and Constant Elasticity

5.3: Elasticity and Pricing

5.4: Elasticity in Areas Other Than Price

5: Review Questions (11)

5: Critical Thinking Questions (4)

5: Problems (6)

Chapter 6: The Macroeconomic Perspective

6.1: Measuring the Size of the Economy: Gross Domestic Product

6.2: Adjusting Nominal Values to Real Values

6.3: Tracking Real GDP Over Time

6.4: Comparing GDP among Countries

6.5: How Well GDP Measures the Well-Being of Society

6: Review Questions (3)

6: Critical Thinking Questions (2)

6: Problems (6)

Chapter 7: Economic Growth

7.1: The Relatively Recent Arrival of Economic Growth

7.2: Labor Productivity and Economic Growth

7.3: Components of Economic Growth

7.4: Economic Convergence

7: Review Questions (5)

7: Critical Thinking Questions (1)

7: Problems (4)

Chapter 8: Unemployment

8.1: How the Unemployment Rate is Defined and Computed

8.2: Patterns of Unemployment

8.3: What Causes Changes in Unemployment over the Short Run

8.4: What Causes Changes in Unemployment over the Long Run

8: Review Questions (15)

8: Critical Thinking Questions (6)

8: Problems (1)

Chapter 9: Inflation

9.1: Tracking Inflation

9.2: How Changes in the Cost of Living are Measured

9.3: How the U.S. and Other Countries Experience Inflation

9.4: The Confusion Over Inflation

9.5: Indexing and Its Limitations

9: Review Questions (6)

9: Critical Thinking Questions (5)

9: Problems (4)

Chapter 10: The International Trade and Capital Flows

10.1: Measuring Trade Balances

10.2: Trade Balances in Historical and International Context

10.3: Trade Balances and Flows of Financial Capital

10.4: The National Saving and Investment Identity

10.5: The Pros and Cons of Trade Deficits and Surpluses

10.6: The Difference between Level of Trade and the Trade Balance

10: Review Questions (8)

10: Critical Thinking Questions (5)

10: Problems (4)

Chapter 11: The Aggregate Demand/Aggregate Supply Model

11.1: Macroeconomic Perspectives on Demand and Supply

11.2: Building a Model of Aggregate Demand and Aggregate Supply

11.3: Shifts in Aggregate Supply

11.4: Shifts in Aggregate Demand

11.5: How the AD/AS Model Incorporates Growth, Unemployment, and Inflation

11.6: Keynes' Law and Say's Law in the AD/AS Model

11: Review Questions (14)

11: Critical Thinking Questions (8)

11: Problems (3)

Chapter 12: The Keynesian Perspective

12.1: Aggregate Demand in Keynesian Analysis

12.2: The Building Blocks of Keynesian Analysis

12.3: The Phillips Curve

12.4: The Keynesian Perspective on Market Forces

12: Review Questions (6)

12: Critical Thinking Questions (2)

12: Problems

Chapter 13: The Neoclassical Perspective

13.1: The Building Blocks of Neoclassical Analysis

13.2: The Policy Implications of the Neoclassical Perspective

13.3: Balancing Keynesian and Neoclassical Models

13: Review Questions (8)

13: Critical Thinking Questions (3)

13: Problems (1)

Chapter 14: Money and Banking

14.1: Defining Money by Its Functions

14.2: Measuring Money: Currency, M1, and M2

14.3: The Role of Banks

14.4: How Banks Create Money

14: Review Questions (10)

14: Critical Thinking Questions (3)

14: Problems (2)

Chapter 15: Monetary Policy and Bank Regulation

15.1: The Federal Reserve Banking System and Central Banks

15.2: Bank Regulation

15.3: How a Central Bank Executes Monetary Policy

15.4: Monetary Policy and Economic Outcomes

15.5: Pitfalls for Monetary Policy

15: Review Questions (11)

15: Critical Thinking Questions (1)

15: Problems (6)

Chapter 16: Exchange Rates and International Capital Flows

16.1: How the Foreign Exchange Market Works

16.2: Demand and Supply Shifts in Foreign Exchange Markets

16.3: Macroeconomic Effects of Exchange Rates

16.4: Exchange Rate Policies

16: Review Questions (9)

16: Critical Thinking Questions (5)

16: Problems (2)

Chapter 17: Government Budgets and Fiscal Policy

17.1: Government Spending

17.2: Taxation

17.3: Federal Deficits and the National Debt

17.4: Using Fiscal Policy to Fight Recession, Unemployment, and Inflation

17.5: Automatic Stabilizers

17.6: Practical Problems with Discretionary Fiscal Policy

17.7: The Question of a Balanced Budget

17: Review Questions (6)

17: Critical Thinking Questions (9)

17: Problems (2)

Chapter 18: The Impacts of Government Borrowing

18.1: How Government Borrowing Affects Investment and the Trade Balance

18.2: Fiscal Policy, Investment, and Economic Growth

18.3: How Government Borrowing Affects Private Saving

18.4: Fiscal Policy and the Trade Balance

18: Review Questions (5)

18: Critical Thinking Questions (3)

18: Problems (2)

Chapter 19: Macroeconomic Policy Around the World

19.1: The Diversity of Countries and Economies across the World

19.2: Improving Countries' Standards of Living

19.3: Causes of Unemployment around the World

19.4: Causes of Inflation in Various Countries and Regions

19.5: Balance of Trade Concerns

19: Review Questions (4)

19: Critical Thinking Questions (3)

19: Problems (1)

Chapter 20: International Trade

20.1: Absolute and Comparative Advantage

20.2: What Happens When a Country Has an Absolute Advantage in All Goods

20.3: Intra-industry Trade between Similar Economies

20.4: The Benefits of Reducing Barriers to International Trade

20: Review Questions (6)

20: Critical Thinking Questions (1)

20: Problems (4)

Chapter 21: Globalization and Protectionism

21.1: Protectionism: An Indirect Subsidy from Consumers to Producers

21.2: International Trade and Its Effects on Jobs, Wages, and Working Conditions

21.3: Arguments in Support of Restricting Imports

21.4: How Trade Policy Is Enacted: Globally, Regionally, and Nationally

21.5: The Tradeoffs of Trade Policy

21: Review Questions (9)

21: Critical Thinking Questions (6)

21: Problems (2)

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